Latvia, Legislation, Markets and Companies

According to Gulbe, Maxima Latvija lease agreement includes a provision, stipulating that, if a tenant does not fulfill his or her obligations, for example – does not pay rent during an extended period of time, it is terminated. In this case, Plus punkts has not fulfilled its obligations, accumulating rent and public utility arrears. Therefore, as of September 17, the agreement has been terminated.

Gulbe does not reveal Plus punkts debt, but she points out that electricity has been shut down in Plus punkts kiosks in "Maxima XXX" supermarket at Karla Ulmana Avenue 88a and in "Maxima XX" supermarket at Dzelzavas Street 6A in Riga.

Press wholesale and delivery company Preses serviss representative Inga Samovica admits that Plus punkts has not made any attempts to contact Preses serviss since September 6.

Preses serviss has not been by contacted by Plus punkts. Therefore Plus punkts has been sent an insolvency warning.